Industrials Author：Yunfeng Zhang Jul 05, 2023 05:19 PM (GMT+8)

EqualOcean checked the industrial and commercial information and found that recently, Shenzhen Fengwang Information Technology Co., Ltd.(Chinese: 深圳是丰网信息技术有限公司 has undergone industrial and commercial changes, with Shenzhen Fengwang Holdings Co., Ltd.(Chinese: 深圳市丰网控股有限公司) of SF Express(Chinese: 顺丰) withdrawing from the shareholder list and adding Shenzhen J&T Express Supply Chain Co., Ltd.(Chinese: 深圳市极兔供应链有限公司) of J&T Express as a shareholder and wholly holding the shares.

J&TExpress

At the same time, the company's primary personnel have also changed.

It is reported that SF Express had made an announcement in May this year that it intended to transfer 100% equity of Fengwang to J&T Express for CNY 1.183 billion. Shenzhen Fengwang was officially established in 2020, and Fengwang started to provide express services in September 2020. Currently, the Fengwang Express network has covered 27 provinces (municipalities and autonomous regions) nationwide, with a revenue scale of over CNY 3.2 billion in 2022, mainly serving e-commerce customers, and the overall network service quality is stable.

J&T Express is a brand established in Indonesia in 2015 and landed in China in March 2020, with "J&T" symbolizing Jet and Timely and Technology. J&T Express has been focusing on the e-commerce express track since entering the Chinese market, achieving rapid growth and successfully completing the acquisition of Best Group's(Chinese: 百世集团) Chinese express business at the end of 2021. J&T Express ranked sixth among the top express carriers in China with a market share of 22.5% in Southeast Asia and 10.9% in China, with total revenue of USD 7.267 billion.

J&T Express has always focused on the e-commerce courier sector and continues to optimize the e-commerce courier service experience, said J&T Express. The acquisition of Fengwang Express will help consolidate J&T Express' advantages in the e-commerce express field, enhance J&T Express' comprehensive service capabilities and help the industry develop in a high-quality manner.

SF Express said that the resources of both parties are highly complementary, which will help the transaction transition smoothly. In the future, SF Express can focus more on developing its core businesses such as domestic mid-to-high-end express, international express, global supply chain services and digital supply chain services. At the same time, the company will continue to build e-commerce express products, the main "e-commerce Express" products are growing steadily and can meet the diversified needs of customers in the mid-to-high-end economy express market.